Latest news with #Mahindra&MahindraFinancialServicesLimited
Mint
3 days ago
- Business
- Mint
IDBI Bank, Mahindra Finance to ABREL: 5 key Stocks to trade Ex-dividend today
Dividend Stocks: IDBI Bank, Mahindra Finance, ABREL, Grindwell Norton Ltd., and Kirloskar Pneumatic Company Limited are 5 key stocks to trade ex-dividend today. These companies had decided that July 14, 2025, would be the record date for identifying the list of shareholders who are entitled to receive dividends. To be included in the list of eligible shareholders to receive dividends under the T+1 settlement method, investors who want to receive dividends from these companies had to purchase shares at least one day prior to the record date. IDBI Bank Ltd— A dividend of Rs. 2.10 per equity share of the bank with a face value of Rs. 10 each has been recommended by the board of directors for the fiscal year that ends on March 31, 2025. At the next Annual General Meeting (AGM) of the Bank, the shareholders will approve the dividend on equity shares, which will then be paid or sent. Aditya Birla Real Estate Limited: The company had recommended paying a dividend of Rs. 2/-- {Rupees Two Only} per share, of Rs. 1- each, which is equal to 20% (twenty percent) considering the face value of shares for the year that ended on March 31, 2025, as compared to 50% paid for the year prior. At the company's upcoming 128th Annual General Meeting (AGM), the shareholders will have to approve the dividend. Mahindra & Mahindra Financial Services Limited: At its meeting on April 22, 2025, the Board of Directors of Mahindra & Mahindra Financial Services Limited had recommended a final dividend of Rs. 6.50 per equity share (i.e., 325% of the face value of Rs. 2/- each) for the fiscal year that ended on March 31, 2025. This dividend will be paid to shareholders whose names are listed as beneficial owners. Grindwell Norton Ltd: Subject to member approval at the company's upcoming Annual General Meeting ("AGM") on Friday, July 25, 2025, the Board of Directors has recommended a dividend of ₹ 17/- per equity share (340% of the face value of ₹ 5/- each) for the fiscal year that ended on March 31, 2025. Kirloskar Pneumatic Company Limited—Subject to member approval at the subsequent AGM, the Board recommended a final dividend of 325% (Rs. 6.50 per equity share) for the Financial Year 2024–2025 at its meeting on April 24, 2025. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions
Business Upturn
25-04-2025
- Automotive
- Business Upturn
RBI fines Mahindra and Mahindra Financial Services by Rs 71 lakh for lapses
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹71.30 lakh on Mahindra & Mahindra Financial Services Limited for non-compliance with provisions of the Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and the Know Your Customer (KYC) Directions, 2016. According to the central bank's official release dated April 25, 2025, the penalty was imposed following deficiencies observed during the statutory inspection of the company's financial position as on March 31, 2023. The inspection revealed multiple instances of regulatory non-compliance, prompting RBI to issue a show cause notice. Advertisement Despite receiving a response and hearing the company's oral submissions, RBI found several violations to be sustained and warranting monetary penalty. These included: Failure to disclose processing fees and other charges in certain loan application forms; Non-furnishing of loan agreements and omission to clearly convey loan details in sanction letters to some borrowers; Omission to give final repayment notices to certain borrowers prior to the repossession or sale of vehicles; Allotment of multiple customer identification codes to individual customers, instead of using a Unique Customer Identification Code (UCIC). The RBI clarified that the penalty was imposed solely for regulatory compliance failures and is not intended to comment on the validity of any contractual dealings with customers. The penalty does not preclude the regulator from initiating further action against the company.
